Oklahoma Insurance Agent Accused of Defrauding Elderly Couple

Tulsa insurance agent Presley Keith Dennis has been arrested and accused of defrauding a Muskogee couple out of nearly $300,000, the Oklahoma Insurance Department reported. The arrest follows an investigation by the department’s anti-fraud unit. The victims, an 80-year-old man and his 68-year-old wife, told investigators that Dennis convinced them to withdraw $300,000 from their annuities and invest it in his company, Dennis Investments, an unlicensed investment firm. They also said Dennis persuaded them to create a joint checking account with him so he could access the money to make investments. Instead of investing the money, Dennis allegedly spent it on past due child support, country club memberships and restaurants. Dennis is charged with one count of exploitation of the elderly. He surrendered to Muskogee County authorities on Jan. 14. His insurance license is currently expired. Source: Oklahoma Insurance Department